The World Bank team led by Ms. Natalya Stankevich, Senior Transport Specialist and Task Team Leader for the Secondary Road Asset Management Project (SRAMP), Sarah G. Michael Program Leader for Sustainable Development, South Caucasus Regional Department and Mr. Giorgi Seturidze, Chairman of the Roads Department of Georgia, held a meeting at the State Audit Office of Georgia.
The State Audit Office (SAO) has been undertaking an independent performance audit and verification of results delivered under the World Bank-funded SRAMP since February 2018. In January 2018, the World Bank and the Roads Department of Georgia requested the State Audit Office to conduct an independent performance audit of the Project, covering the period of July 6, 2016 through December 31, 2017.
Irakli Mekvabishvili, Auditor General, Deputy Auditor Generals Eka Ghazadze and David Gogichaishvili with the members of the Word Bank delegation discussed the status of the Project as of December 31, 2017 and the progress of the ongoing performance audit.
“It is the first time when the Supreme Audit institution conducts an independent performance audit of a project financed by an international donor. This agreement underlines high professionalism and competence of the State Audit Office and the confidence in the quality of our work,” said Irakli Mekvabishvili. The Auditor General expressed hope that such cooperation between the State Audit Office and the leading international financial institutions would continue in the future.
“Prior to engaging with the SAO, the World Bank assessed its capacity to conduct an audit, which is not a financial one, and determined that SAO’s capacity was adequate. SAO strengthened its capacity through training and development and adoption of a Performance Audit Manual with the support of Swedish National Audit (SNAO) and German Society for International Cooperation (GIZ). The performance audit of SRAMP is a unique opportunity for the SAO to demonstrate its capacity to all development partners working in Georgia,” said Natalya Stankevich.
The Loan Agreement for SRAMP was signed between Georgia and International Bank for Reconstruction and Development (IBRD) on the 28th of March 2016. The SRAMP is implemented by the Roads Department of Georgia.
SRAMP uses an innovative financing instrument, whereby the disbursement of the loan proceeds takes place upon the achievement of predefined project results (the so-called Disbursement Linked Indicators) and verification of these results through an independent performance audit.
SRAMP aims to improve road users’ access to social services and markets through supporting the rehabilitation and maintenance of secondary roads in Racha-Lechkhumi, Mtskheta-Tianeti, Shida-Kartli and Guria and enhancing the capacity of the Roads Department in managing the country’s secondary roads network.
World Bank commitments to Georgia since 1992 total approximately US$ 2.8 billion.
